Austinburg Township Fiscal Officer David Thomas testifies prior to the Ohio House national Accountability and Oversight Committee on Ohio home Bill 123, made to protect customers from high interest levels and costs on short-term or “payday” loans, Wednesday during the Ohio Statehouse in Columbus.

COLUMBUS

Ohio House legislators heard hours of testimony this week on a bill to restrict astronomical rates of interest and charges on short-term loans, igniting debate on whether “payday” lenders offer required advances to underserved consumers or produce “debt traps.”

Austinburg Fiscal Officer David Thomas, a known user associated with the Ohioans for cash advance Reform Coalition, which formed to get Ohio House Bill 123, is certainly one proponent for the bill. Continue reading →